Graphic Packaging (NYSE:GPK) Updates FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.650-2.850 for the period, compared to the consensus estimate of 2.690. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GPK. Citigroup upped their price target on Graphic Packaging from $32.00 to $34.00 and gave the company a buy rating in a research report on Thursday, April 4th. Wells Fargo & Company reaffirmed an underweight rating and set a $21.00 price objective on shares of Graphic Packaging in a research note on Monday, April 1st. Robert W. Baird lifted their target price on shares of Graphic Packaging from $28.00 to $30.00 and gave the company an outperform rating in a research note on Thursday, February 22nd. Finally, StockNews.com lowered Graphic Packaging from a buy rating to a hold rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $28.44.

Graphic Packaging Trading Up 0.9 %

GPK traded up $0.24 during mid-day trading on Friday, reaching $27.10. The stock had a trading volume of 3,180,953 shares, compared to its average volume of 2,895,506. The firm’s fifty day simple moving average is $27.53 and its two-hundred day simple moving average is $25.11. The stock has a market capitalization of $8.33 billion, a P/E ratio of 12.26 and a beta of 0.86. Graphic Packaging has a 52 week low of $20.07 and a 52 week high of $29.50. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.42 and a current ratio of 1.24.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. On average, equities analysts predict that Graphic Packaging will post 2.69 EPS for the current year.

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. Graphic Packaging’s payout ratio is presently 18.10%.

Insider Buying and Selling at Graphic Packaging

In related news, EVP Joseph P. Yost sold 70,000 shares of Graphic Packaging stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $26.20, for a total transaction of $1,834,000.00. Following the completion of the sale, the executive vice president now directly owns 205,231 shares of the company’s stock, valued at $5,377,052.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Graphic Packaging Company Profile

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.